Should I do an accelerated MBA program right after accounting undergrad?

Graduate School Business School - MBA
1

Some background information:

I am currently a junior at Indiana University Bloomington and came with a lot of credits, so I could pretty easily graduate in 4 years with 150 credits and get my CPA. I know I’m interested in a career in accounting/finance, but I don’t really know which part of accounting/finance I want to go into. When applying for internships at accounting firms, I have chosen tax, but I’m not set on tax. I think I might be interested in financial due diligence based on online research, but I’ve only done 1 accounting internship. It was kind of a joke, so I don’t have much of a read on what actual work is like in various roles.

IU has an accelerated MBA program where you graduate with both an undergrad and MBA degree in 5 years. The MBA is concentrated in accounting/finance, and I’m very sure that I want to end up somewhere in accounting/finance. My parents would pay for the vast majority of the MBA program, and they have said that cost is not an issue. That said, the additional cost of the program over graduating in 4 years, including the lost salary from a 5th year in school, totals roughly $80,000-$100,000. If I’m going to need an MBA at some point, I’d rather just get it done now, but I’m not sure if I actually will or if an MBA is a good investment at this point.

Can I reasonably expect to earn over $100,000 extra with an MBA than I could with just an undergrad degree in accounting and finance throughout the course of my career? Roughly how many years would it take to earn the money back?

I would appreciate any advice anyone has.

Thanks in advance for any help!

2

Forgot to mention that I got into this program - I’m trying to decide whether to do it

3

Don’t do it. MBA only helps after a few years of experience. Also, after a few years of working, you may want to consider the top business schools (T8 or T10).

4

An MBA without work experience is useless.

5

@fivesages @itsgettingreal17 I understand that an MBA right after undergrad isn’t going to get me a significantly better job right away. Are you saying that if I did this program, the degree would still be useless after working for several years?

6

Your MBA will not be viewed the same as someone who had work experience then got an MBA then started out in a managerial position. You’ll have to work your way up the hard way rather than use the MBA to make a career jump. It’s a waste of money. And I agree that you’ll want to aim higher for your MBA, so I suggest you wait. Get a specialized masters degree if you’re not ready to enter the workforce after you finish your BBA (MAcc, etc).

7

I completely agree with @itsgettingreal17